Experience Economy What does the consumer want? Christine Harris & Kathryn Shipway Bournemouth University

Value to experience Attributes of the product – Dodds et al 1991, Gale 1994, Zeithaml 1988 Encompass service and image Naumann 1995 Bundle of attributes – Snoj et al 2004 Overall shopping experience - McTaggart

Questionnaire - Naumman’s Model (1995) Price Service Quality Image Product Quality Customer s Perceptio n of Value

Price The prices of the products Price reduction/sales Special promotions The availability of store/loyalty cards

Product Quality Variety and assortment of products The quality of the products available The general layout of the store The general location of the stores

Service Quality Shops restocked regularly and always full of goods The knowledge of the staff The returns policy The helpfulness and availability of the staff

Image The quality of the stores or retailers advertising. Regular introductions of new ranges Their involvement in the local community (Sponsorship and Vouchers) The overall image of the store

Q1 Name a supermarket retailer that you feel offers good value

Discounters Aldi Lidl Netto Kwiksave

Morrisons & Asda

Sainsbury & Tesco

Waitrose & M&S

Supermarket Value is ….. Asda Service and Price Morrisons Price Sainsburys Product Quality and Image Tesco Price and Product Quality Waitrose Product Quality and Service

M&S Food versus Fashion

Food v Fashion

References Dodds, W., Monroe, K. and Grewal, D. (1991) 'Effects of price, brand and store information on buyers’ product evaluations', Journal of Marketing Research, Vol. 28, No. 3, pp Gale, B. (1994) Managing Customer Value. The Free Press % Journal Article, New York. McDougall, G. and Levesque, T. (2000) 'Customer satisfaction with services: putting perceived value onto the equation', Journal of Services Marketing, Vol. 14, No. 5, pp McTaggart, J. (2005) 'Perceptions of Value', Progressive Grocer, Vol. 84, No. 12, pp Naumann, E. (1995) 'Creating Customer Value; The linkage between customer value, customer satisfaction, customer loyalty, and profitability'. Snoj, B., Lorda, A. and Mumel, D. (2004) 'The relationships among perceived quality, perceived risk and perceived product value', Journal of Product and Brand Management, Vol. 13, No. 3, pp Zeithaml, V. (1988) 'Consumer Perceptions of Price, Quality, and Value: A Means-End Model and Synthesis of Evidence', Journal of Marketing Research, Vol. 52, No. 2, pp

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